Arrow Minerals rises 150% in August after securing 70% interest in DSO-grade iron ore tenement near Rio Tinto project
Arrow Minerals, Genesis Resources, and Accent Resources drove significant gains in August through resource acquisitions and exploration successes.
Arrow Minerals added to its portfolio by acquiring a 70% interest from Leeuwin Metals in a tenement holding direct shipping ore (DSO)-grade iron ore. This acquisition places the site close to Rio Tinto's 65-million-tonne-per-year Robe joint venture, just under 15 kilometers away. The company previously gained 100% in July and rose another 150% in August. Arrow also operates the Yarraloola copper project.
Genesis Resources increased its value by 140% in August after sampling its Arltunga project near Alice Springs revealed high-grade gold ore, a move that pushed the stock to a ten-year high at one point. Accent Resources, which hit a trading halt due to its own performance, surged 2817% for the month.
The Australian mining sector remained active in August following a strong July. Copper prices returned to near-record levels during this period.
